It’s been the refrain of behavioral economists and, in my case at least, my wise husband for years: Spend your money on experiences, not things. A vacation or a meal with friends will enrich your life; new shoes will quickly lose their charm.
That’s true, but it’s not the whole story, argue psychologists Darwin A. Guevarra and Ryan T. Howell in a new paper in the Journal of Consumer Psychology. Not all goods, they say, should be lumped together.
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